Solar Inverters/PV Inverters Market Expected to Achieve US$ 24.63 Billion at a 5.5% CAGR From 2025 to 2034

𝐓𝐡𝐞 𝐬𝐨𝐥𝐚𝐫 𝐢𝐧𝐯𝐞𝐫𝐭𝐞𝐫𝐬/𝐏𝐕 𝐢𝐧𝐯𝐞𝐫𝐭𝐞𝐫𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 14.37 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2024. 𝐈𝐭 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐭𝐨 𝐔𝐒𝐃 24.63 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 2034, 𝐞𝐱𝐡𝐢𝐛𝐢𝐭𝐢𝐧𝐠 𝐚 𝐜𝐨𝐦𝐩𝐨𝐮𝐧𝐝 𝐚𝐧𝐧𝐮𝐚𝐥 𝐠𝐫𝐨𝐰𝐭𝐡 𝐫𝐚𝐭𝐞 (𝐂𝐀𝐆𝐑) 𝐨𝐟 5.5% 𝐟𝐫𝐨𝐦 2025 𝐭𝐨 2034.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧:
Solar inverters/PV inverters are devices that transform direct current (DC) electricity produced by solar panels into alternating current (AC) electricity, which is utilized to supply energy to homes, businesses, and the electrical grid. They are crucial elements in photovoltaic (PV) solar systems, facilitating effective energy transformation and alignment with grid requirements. Contemporary inverters also incorporate functionalities such as monitoring, optimization, and safeguarding to improve the efficiency and lifespan of solar energy systems.

𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/solar-inverter-pv-inverter-market/request-for-sample

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:
• The increasing emphasis on renewable energy sources, due to their multiple advantages like environmental preservation, sustainable growth, and a more robust electrical grid, has heightened the need for effective solar inverters, which play a vital role in transforming solar energy into usable electricity.

• Solar PV systems are increasingly appealing due to their improved efficiency, dependability, and grid connection features. Progress in power electronics, efficient inverters, and maximum power point tracking (MPPT) optimization are crucial factors behind this transition.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
In a highly competitive industry, leading competitors continually strive to innovate and distinguish their products to gain a competitive advantage in the market. Here is the list of the leading companies operating in the solar inverters/PV inverters market:
• Huawei
• Sungrow Power Supply
• SMA Solar Technology AG
• TMEIC
• Schneider Electric
• SolarEdge Technologies
• Power Electronics
• KACO New Energy Inc.
• Fronius
• Wuxi Sineng
• SunPower Corporation
• Delta Electronics, Inc.
• Hitachi Hi-Rel Power Electronics Pvt. Ltd.
• Siemens AG

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/solar-inverter-pv-inverter-market/request-for-discount-pricing

𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐒𝐨𝐥𝐚𝐫 𝐈𝐧𝐯𝐞𝐫𝐭𝐞𝐫𝐬/𝐏𝐕 𝐈𝐧𝐯𝐞𝐫𝐭𝐞𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:
• Asia Pacific dominated the global solar inverters/PV inverters market with a revenue share of 46.10% in 2024. The regional market growth is primarily fueled by the growing number of solar installations in countries such as Japan and China.

• The Europe solar inverters/PV inverters market is expected to grow in the coming years, owing to rising energy prices and the implementation of favorable government policies.

• The string inverters segment, by type, dominated the market with the largest revenue share of 49.10% in 2024. The dominance of the segment can be attributed to various benefits, including high efficiency and reliability.

• The utilities segment, based on end users, accounted for the largest market share of 46.33% in 2024. Growing renewable energy demand, reduced solar devices and equipment costs, and increasing government funding are among the key factors driving the growth of the utility segment.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The solar inverters/PV inverters market is mainly segmented based on type, deployment, end users, and region. Based on type analysis, the string inverters segment led the global market with the largest revenue share of 49.10% in 2024. String inverters are connected to a series of solar inverters referred to as the string array.

Moreover, according to the end-user analysis, the utilities segment held the largest market share, 46.33%, in 2024. String inverters and central inverters are the two most frequently utilized types of solar inverters in the utility industry.
By Type Outlook (Revenue - USD Billion, 2020-2034)
• Central Inverters
• Micro Inverters
• String Inverters

By Deployment Outlook (Revenue - USD Billion, 2020-2034)
• On-Grid
• Off-Grid

By End Users Outlook (Revenue - USD Billion, 2020-2034)
• Utilities
• Commercial
• Industrial

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/solar-inverter-pv-inverter-market

𝐆𝐞𝐨𝐠𝐫𝐚𝐩𝐡𝐢𝐜𝐚𝐥 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:
• North America
o US
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific

• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of the Middle East & Africa

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Microcarriers Market:
https://www.polarismarketresearch.com/industry-analysis/microcarriers-market

Europe MRO Distribution Market:
https://www.polarismarketresearch.com/industry-analysis/europe-mro-distribution-market

Nuclear Power Plant Control System Market:
https://www.polarismarketresearch.com/industry-analysis/nuclear-power-plant-control-system-market

Direct Air Capture Systems Market:
https://www.polarismarketresearch.com/industry-analysis/direct-air-capture-systems-market

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